Last Updated : 29-08-2014 15:24

 
 

Business

Mechanism set up to remedy issues faced by EU investments

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The European Chamber of Commerce of Sri Lanka (ECCSL) recently launched the European Union-Sri Lanka (EUSL) Investor Dialogue, to identify barriers and constraints faced by the European investors in Sri Lanka and find solutions to these issues.

JKH officially announces US $ 650 integrated resort project

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Premier blue chip John Keells Holdings (JKH) yesterday announced the much hyped Glennie Street project to the Colombo Stock Exchange (CSE) officially, of which the company kept mum even in its latest annual report.

Defining luxury in the hospitality industry

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The blurb appearing in a hotel advertisement that said, “Please cast your valuable vote for the Kxxxxxxxx Hotel in the 2013 World Luxury Hotels Awards...” caught my eye and immediately had me thinking.

Will Asia’s largest FTA make a difference?

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The first round of negotiations to establish the Asian Regional Comprehensive Economic Partnership (RCEP) -- a free trade agreement (FTA) across ASEAN+6 (the 10 ASEAN members plus Australia, China, Japan, South Korea, India and New Zealand) -- was held in Brunei in May. The RCEP idea was first proposed by Indonesia during its chairmanship in 2011.

Reviving agriculture: The case for a fundamental rethink

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The 35 years since liberalization of the economy has seen repeated cycles of the economy overheating once growth exceeds 6 percent. Growth of 8 percent or more is necessary over a sustained period to achieve economic transformation similar to that achieved by a number of countries in East and South East Asia.

To GSP or not to GSP, that is the question

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The European Union’s (EU) Generalised System of Tariff Preferences (GSP) is a scheme where the EU grants developing countries such as Sri Lanka duty free or preferential duty access to the EU market for a selected number of products.
What is GSP Plus?

Role of good governance in achieving economic success

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In the Best Interest of my Country is the fourth Volume of Dinesh Weerakkody based on his regular columns in the print media.   Starting in 1990 with the first volume, he proceeded to bring out the second volume in 1993 and the third in 1996.

GSMB: Issuance of mining permits, exploration licenses and consultancies

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As a former Director of the Geological Survey Department (Present GSMB) I have critically analyzed the Minerals Yearbook 2012 released by the Director General GSMB in August 2012.

Drought resistant coconut trees an urgent need: Coconut growers

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Climate change has invariably taken its toll on the country’s coconut cultivation considerably and thus, the growers are calling for drought and temperature resistant coconut plants as an urgent need.

Rupee slips on importer demand

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The Sri Lankan rupee edged down to a near eight-month low in early trade yesterday as the Central Bank asked banks not to buy dollars beyond 130.60 with the local currency remaining under pressure on concerns of further foreign outflows.

Adverse weather dampens tea production: Planters

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Prolonged heavy showers and strong gale force winds have drastically impacted tea production with some estates having recorded only 40 percent of their estimated average yield in the past two months, Planters' Association said in a statement.

Aitken Spence puts two thermal power plants up for sale

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Two thermal power plants belonging to Aiken Spence PLC have been put up for sale following the lapse of the power purchase agreements they had with Ceylon Electricity Board.

We aren’t obliged to honour Indo–Lanka Accord

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By Udaya P Gammanpila
Shiv Shankar Menon is Indian Prime Minister’s all-powerful National Security Advisor.  He has served as Indian High Commissioner in Sri Lanka.  In fact, in certain cases, he has acted as a de facto Ambassador for Sri Lanka in India defending Sri Lanka within the Indian circles. 

Importers call for Gold Card System re-introduction

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Country’s importers renewed their call to bring back the Gold Card System where selected importers could enjoy preferential treatment when clearing their cargo, doing away with the existing system where all importers are treated alike.

Japan overtakes China as largest lender to Lanka

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Overtaking China, Japan became the single largest development finance provider to Sri Lanka during the first four months.

Are women less susceptible to corruption?

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With half of the world’s population being female, gender equality in political representation has...

Amana Bank enters Puttalam with 22nd branch

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Amana Bank opened its 22nd branch on July 1 in Puttalam, thereby expanding its services to the residents of the locality and nearby towns such as Kalpitiya, Norochcholai, Palavi, Karative and Madurankuliya.

State enterprises’ outstanding debt expands to Rs.333bn

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The total outstanding debt of t he country’s non-financial state-owned business enterprises (SOBEs) has swollen by as much as Rs.12 billion during the first five months to Rs.333.3 billion by the end of May 2013, Mirror Business observes.

CB disagrees with Moody's assessment of economy

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Hot on the heels of Moody's downgrading the outlook on Sri Lanka; the Central Bank (CB) expressed its displeasure over the rating action by the international rating agency and said it actually warrants an upward revision given the constructive policy measures taken by the authorities.

H'tota tank farm pre-commissioning begins

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M.V. Leon - M fuel tanker from Singapore called at the Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) recently with several loads of Marine Gas Oil for testing and pre-commissioning of the bunker facilities of the port, upon completion of its Phase I.

Moody's cut SL's B1 rating outlook to stable

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International rating agency, Moody's has slashed outlook on Sri Lanka's B1 sovereign rating from positive to stable due to slow growth of the country's foreign reserve position and higher debt burden

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One millionth tourist of 2014 arrives